Sale Of Vision Bank Business (Tables)

12 Months Ended

Dec. 31, 2012

Discontinued Operations and Disposal Groups [Abstract]

Schedule of assets purchased and liabilities assumed

The assets purchased and liabilities assumed by Centennial as of February 16, 2012, included the following:

(In thousands)	February 16, 2012
Assets sold
Cash and due from banks	$	20,711
Loans	355,750
Allowance for loan losses	(13,100		)
Net loans	342,650
Fixed assets	12,496
Other assets	4,612
Total assets sold	$	380,469
Liabilities sold
Deposits	$	522,856
Other liabilities	2,049
Total liabilities sold	$	524,905

Schedule of composition of pre-tax gain on sale of business

The pre-tax gain, net of expense is summarized in the table below:

(In thousands)
Premium paid	$	27,913
One-time gains	298
Loss on sale of fixed assets	(2,434		)
Employment and severance agreements	(1,610		)
Other one-time charges, including estimates	(2,000		)
Pre-tax gain	$	22,167

Schedule of balance sheet of merged entity

The balance sheet of SEPH as of December 31, 2012 and March 31, 2012 was as follows:

(In thousands)	December 31, 2012		March 31, 2012 (unaudited)
Assets
Cash	$	7,444	$	16,049
Performing loans	3,886		16,123
Nonperforming loans	55,292		82,326
OREO	21,003		28,578
Other assets	16,803		18,417
Total assets	$	104,428	$	161,493
Liabilities and equity
Intercompany borrowings	$	93,000	$	140,000
Other liabilities	838		4,623
Equity	10,590		16,870
Total liabilities and equity	$	104,428	$	161,493